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These stocks witness a huge volume burst in the last leg of the trading session!
Last Updated: 25th February 2023 - 01:59 pm
Spicejet, Hitachi Energy India, and Biocon witnessed a volume burst in the last 75 minutes of the trade.
As the saying goes, the first, as well as the last hour of each trading session, is the most important and active in terms of price & volume.
More so, the activity in the last hour is said to be of utmost importance because most of the pro-traders and institutions are active at this time. Hence, when a stock sees a good spike in volume in the last leg of the trade along with price rise, it is considered a pro, and institutions have a keen interest in the stock. Market participants should keep a close watch on these stocks as they can witness good momentum in the short to medium-term.
So, based on this principle, we have shortlisted three stocks that have witnessed volume burst in the last leg of the trade along with a price rise.
Spicejet: Strong buying interest was seen in the last hour of the session as the stock soared over 10% in the last 75 minutes of the session. Interestingly, over 90% of the total day’s volume was concentrated in this period. The stock has crossed above its prior swing high level and has formed a huge bullish bar on the technical chart. Such positivity towards the end is likely to attract traders in the upcoming trading session.
Hitachi Energy India: The scrip has been enjoying strong trading activity lately, having soared nearly 10% during the week. It jumped over 3% on Friday which was accompanied by above-average volume. Most of the action was seen in the last hour and the stock managed to close above its 200-DMA. Such positive price action is likely to be reflected in the near term.
Biocon: After a steep downtrend, strong buying has emerged in the stock. The last hour of buying activity pushed the stock above its 5-DMA and it closed at the day’s high. Volume was recorded to be on the higher side and thus signifies a strong participation level. The stock is likely to be on traders’ radar for next week.
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